Reagan, GHW Bush and GW Bush together are responsible for a 61.4% increase in the debt/GDP ratio, while Clinton and Obama (2010) combined account for -0.7%.

I copied that from another thread
WHAT?

Obama is failing
Clinton's debt had a GOP congress
close to 1/2 of the debt RR and GWB are being accounted for is interest on debt inherited
as well as BHO

MY GOD LIBS GET A GRIP

UE is out of control and our president has spent trillions we do not have to get us here
we where fighting 2 wars in 2007 and was within 162 billion dollars of breaking even (WITHOUT ACCUMULATED INTEREST FROM THE PAST 200+ YEARS)
Today we are fighting one and we cannot even get within 1 trillion dollars of that

ITS POLICY
its not GWB
its not RR
it has nothing to do with the GOP congress that balanced the Budget with BC in the 90s

it has nothing to do with the GOP congress that balanced the Budget with BC in the 90s

Click to expand...

Three major deficit-reducing budgets were produced in the '90s that put us on track for a surplus by the end of the decade.

One of those was produced by a Republican Congress, the Balanced Budget Act of 1997. Unfortunately, that's the one that fizzled out and didn't actually reach its deficit-reducing potential.

Looking back at the CBO's analysis of the Republican's Balanced Budget Act in 1997, the deficit impact at the end of the '90s/beginning of the '00s was supposed to be:

FY98: Net increase in the deficit of $200 million

FY99: $12.6 billion in deficit reduction

FY00: $35 billion in deficit reduction (note that some of the Medicare cuts that were to account for this reduction were eliminated by the Balanced Budget Refinement Act of 1999)

FY01: $18.2 billion in deficit reduction

This, by the way, is why the graph in that CRS report shows the BBA having very little impact on the deficit until after Year Four of its implementation: the large-scale deficit reductions weren't scheduled to begin until after FY01. As you may recall FY98 was the first year of the surplus, despite the fact that the BBA was adding to the deficit at that point.

In reality, the large deficit reductions in the BBA were scheduled to start taking place in FY02 and thereafter (two-thirds of which was to come from cuts to federal health spending in FY02 and virtually all of which was to come from those sources in subsequent years). Of course, Congress began overriding those Medicare cuts manually in 2003 and has been doing so ever since--the "doc fix" to cope with the BBA's broken SGR formula that we're still stuck with today.

Reagan, GHW Bush and GW Bush together are responsible for a 61.4% increase in the debt/GDP ratio, while Clinton and Obama (2010) combined account for -0.7%.

I copied that from another thread
WHAT?

Obama is failing
Clinton's debt had a GOP congress
close to 1/2 of the debt RR and GWB are being accounted for is interest on debt inherited
as well as BHO

MY GOD LIBS GET A GRIP

UE is out of control and our president has spent trillions we do not have to get us here
we where fighting 2 wars in 2007 and was within 162 billion dollars of breaking even (WITHOUT ACCUMULATED INTEREST FROM THE PAST 200+ YEARS)
Today we are fighting one and we cannot even get within 1 trillion dollars of that

ITS POLICY
its not GWB
its not RR
it has nothing to do with the GOP congress that balanced the Budget with BC in the 90s

Click to expand...

Would you like a reminder of how many threads you have started about Bush and Reagan?

Useful Searches

About USMessageBoard.com

USMessageBoard.com was founded in 2003 with the intent of allowing all voices to be heard. With a wildly diverse community from all sides of the political spectrum, USMessageBoard.com continues to build on that tradition. We welcome everyone despite political and/or religious beliefs, and we continue to encourage the right to free speech.

Come on in and join the discussion. Thank you for stopping by USMessageBoard.com!